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Wyre to Enable Simple Payment Solutions and Accelerate DeFi Growth on Algorand

·3 min read

SAN FRANCISCO, Sept. 14, 2021 /PRNewswire/ -- Wyre, the leading fiat-to-crypto and payment infrastructure company, today announced the upcoming availability of simple payment solution integrations for projects across the Algorand ecosystem. Via this partnership, developers building on the Algorand blockchain will be able to quickly and easily deploy any of Wyre's robust and simple to integrate APIs, allowing projects—like the decentralized financial applications and tokenized marketplaces Algorand was purpose-built for—to integrate payment solutions in hours, instead of months.

(PRNewsfoto/Algorand Inc.)
(PRNewsfoto/Algorand Inc.)

Beginning next month, developers on Algorand will have seamless access to Wyre's Checkout and Card Processing APIs, which allow end users to transact in Algorand-supported currencies (including the native ALGO coin, as well as USDT and USDC on Algorand); Swap API, which enables users to swap other cryptocurrencies into Algorand native currency; and Savings API, which offers users the ability to earn yield on their Algorand assets.

Further, Wyre will make Algorand assets available across all current and future Checkout API deployments, enabling anyone in any ecosystem to purchase them quickly and easily with a debit card and via ACH, creating vast exposure for Algorand to new networks of users.

"Wyre is pleased to reveal our latest partnership with Algorand. Thanks to this partnership, developers can go to market sooner and provide their end users with enhanced functionality. We are looking forward to working closely with the Algorand team in the coming weeks and months to provide their developer ecosystem with further resources so they can get building and broaden the Algorand ecosystem even more," says Wyre CEO, Ioannis Giannaros.

"Wyre's compliant payment infrastructure will enable Algorand-based projects to dramatically accelerate their go to market timelines," said Paul Riegle, Chief Product Officer at Algorand. "These exciting integrations will create new, frictionless on-ramps for users to the booming ecosystem of DeFi services, NFT markets, gaming platforms and more on Algorand."

About Wyre
Wyre is the leading fiat-to-crypto and payment infrastructure company for the crypto ecosystem. Focusing on developers, the company provides easy-to-integrate APIs which enable thousands of developers to bring crypto to the masses. The company has "on-ramped" over 15 million end-users to their partners and has processed over $10B in payments since inception. "Checkout", Wyre's flagship product, is the world's fastest fiat-to-crypto gateway and has helped hundreds of crypto applications better reach their customers. Wyre has been an active player in the crypto space since 2013, supporting customers in over 100 countries worldwide, and empowering them with seamless access to blockchain technology. For more information, please visit www.sendwyre.com.

About Algorand, Inc.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for defi, financial institutions and governments to smoothly transition into FutureFi. The technology of choice for more than 700 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.

Media Contact:
Victoria Grigoryants

Algorand, Inc.